Adamus Resources Limited - Sulphide Ore Zones Extended at Teberu Pit
November 07 2010 - 10:09PM
PR Newswire (Canada)
PERTH, Western Australia, Nov. 8 /CNW/ -- /NOT FOR DISTRIBUTION TO
UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES/ PERTH, Western Australia, Nov. 8 /CNW/ - Exploration
drilling below the Teberu 04 pit at the Nzema Gold Project has
increased the depth extent of the gold rich sulphide ore
zones. Teberu 04 is adjacent to Nugget Hill and is one of the
planned pits along the Salman trend that is prospective for
sulphide ore below the known oxide ore reserves. Best
intersections include :
_____________________________________________ |Hole ID| Section
|From|To |Interval | Grade| | |(UTM N55)|(m) |(m)| (m) |(g/t Au)|
|_______|_________|____|___|_________|________| |SNRC983| 553800 |
74 |90 | 16 | 3.34 |
|_______|_________|____|___|_________|________| |SNRC984| 553850 |
92 |101| 9 | 1.75 | |_______|_________|____|___|_________|________|
|SNRC985| 553750 | 77 |85 | 8 | 4.37 |
|_______|_________|____|___|_________|________| |SNRC990| 553950 |
50 |70 | 20 | 1.33 |
|_______|_________|____|___|_________|________| A reverse
circulation (RC) and diamond drilling program was commenced in
August 2010 with the aim of extending the sulphide ore zones and
generating a Measured and Indicated resource. Initial
drilling at the Nugget Hill pit intersected broad zones of sulphide
mineralisation that were reported on 22nd October. The latest
results are from the Teberu 04 pit located 400m to the northeast of
Nugget Hill and represent a separate sulphide lens. The
Teberu 04 sulphide ore zone varies in thickness from 5m to 20m and
extends for at least 300m along strike. A long section suggests
high-grade ore shoots may exist and these will be the target for
further drilling planned. The new results provide additional
confirmation about the continuity of the sulphide ore, both along
strike and down dip. NEXT STEPS RC and diamond drilling will
continue during November at Teberu 04 pit as well as Salman South
and Salman Central located along the Salman trend. The
primary focus is to assess the continuity and depth extent of the
gold rich sulphide ore zones. The first phase of drilling
will be conducted on 50m spaced traverses with holes drilled to
test the sulphide ore zones to a vertical depth of 100m. If
results are favourable a second phase of drilling will test to a
vertical depth of 200m. Results will be incorporated into a
sulphide mineral resource update planned for 2011. Exploration for
oxide resources has also commenced with preparations for a RC
drilling program at the Aliva prospect. Other oxide targets
that have been prioritised for further work include the Avrebo and
Akropon prospects. About Adamus Adamus Resources Limited is an
explorer and mine developer, listed on the Australian Securities
Exchange (ASX), TSX Venture Exchange (TSX-V) and Frankfurt Stock
Exchange Open Market (FSE). The Company's primary focus is on
exploring, realising and expanding the economic potential of the
Southern Ashanti Gold Project in Ghana, West Africa. The
Project encompasses approximately 665km² of tenure in the Ashanti
Gold Belt - host to over 100moz of gold and the Project boasts
excellent access to port and road infrastructure. Ghana is a
stable West African country with a long history and some of the
world's largest gold mining operations. Gold production is
vital to the national economy. Members of the Adamus Board
and management team have proven records in mineral exploration,
project development and project financing. Kind regards ADAMUS
RESOURCES LIMITED (signed) Mark Connelly Managing Director/CEO
Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release. Caution Regarding Forward Looking Information.
Certain statements included in this announcement, including
information regarding Adamus' plans with respect to its mineral
properties, constitute forward-looking information.
Forward-looking information includes, among other things,
statements regarding expected operations. Forward-looking
information is based upon a number of estimates and assumptions
made by the Company in light of its experience, current conditions
and expectations of future developments, as well as other factors
that the Company believes are appropriate in the
circumstances. While these estimates and assumptions are
considered reasonable by the Company, they are inherently subject
to business, economic, competitive, political and social
uncertainties and contingencies. Many factors could cause the
Company's actual results to differ materially from those expressed
or implied in any forward-looking information provided by the
Company, or on behalf of, the Company. Such factors include,
among other things, risks relating to additional funding
requirements, metal prices, exploration, development and operating
risks, competition, production risks, regulatory restrictions,
including environmental regulation and liability and potential
title disputes. Investors are cautioned that forward-looking
information is no guarantee of future performance and, accordingly,
investors are cautioned not to put undue reliance on
forward-looking information due to the inherent uncertainty
therein. Forward-looking information is made as at the date
of this announcement and the Company disclaims any intent or
obligation to update publicly such forward-looking information,
whether as a result of new information, future events or results or
otherwise. pFor further information please see our website: a
href="http://www.adamusresources.com.au"www.adamusresources.com.au/a
or contact:br/ br//p table valign="top" border="0"tr valign="top"td
align="left" /td td align="left"Mark Connelly -
Managing Director / CEObr/ +61 8 9322 5943br/ email: a
href="mailto:mark.connelly@adamusresources.com.au"mark.connelly@adamusresources.com.au/a/td/tr/table
p align="justify"iFor media enquiries contact:/ibr/ i/ibr//p table
valign="top" border="0"trtd /td tdBrian Thornton -
Farrington Nationalbr/ +61 2 9332 4448br/ email: a
href="mailto:bt@farrington.com.au"bt@farrington.com.a/aa
href="mailto:bt@farrington.com.au"u/a/td/tr/table
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